When we have children, 24 hours a day are few. Time escapes us so quickly that we don’t even see it pass and we can hardly think about facing day to day. We settle for seeing healthy children grow up. But at some point it is necessary to stop to think about their future, to look for the best formula to ensure that they will not lack for anything.
Only in covering basic needs during the first 18 years more than 100,000 euros per child are spent. What would happen if, suddenly, you are no longer there or cannot afford that financial outlay? The best way to not worry about tomorrow is to take action today. How? aim.
1. Take out accident insurance
We usually think of accident insurance as a policy that you only have to take out when you are doing risky work. On the other hand, if you take a look at the general covers, you will see that they are more beneficial than you thought.
In general, this type of policy covers both accidents and illnesses that occur in the professional and family sphere. Therefore, the insured receives compensation when he suffers a mishap that causes bodily harm. If you die, the beneficiary is the one who collects the money. How much? The amount depends on the characteristics of each insurance, but can exceed 100,000 euros depending on the damage.
The amounts go up depending on whether it is a broken bone, a burn, a temporary disability, a permanent and total disability or severe disability. In addition, the normal thing is that they cover the hospitalization expenses and the salary of a person for a certain time to attend to those insured who need the assistance of third parties to be able to carry out such daily actions as washing or dressing.
The coverage depends on the company and the type of insurance, but there are from basic policies to specific accident insurance for men that cover medical expenses and assistance in traveling abroad. It may also be interesting to hire a family plan that offers medical and school assistance for children.
2. Diagnostic insurance: protection against cancer
Accident insurance also covers illnesses, but if you are looking for a more specific one, you may be interested in considering diagnostic insurance. They are normally designed to protect the insured economically if they are diagnosed with cancer tomorrow. Each policy describes a series of serious illnesses. If the insured is diagnosed with any of them for the first time in his life, he receives financial compensation.
As a general rule, women are covered before a possible cancer of the breast, cervix, ovaries, vagina, vulva or fallopian tube, among others. In men, they usually include, at least, cancer of the prostate, testicles, penis and breast.
3. Life insurance cannot be missing
This insurance is essential when you have debts (mortgages, credits, etc.), since, in the event of your death, the burden is settled. In this way, the heirs not only do not have to take responsibility for these debts, but also receive financial compensation.
The premiums of these policies can be adapted to the economic situation of each insured and the amount to be received is in line with the capital contributed.
4. Make your money grow with savings plans
It is no secret that today it is difficult to obtain a good return with products such as savings accounts or deposits, but if you opt for savings plans or long-term investments, you will be able to get some interest in your favor.
An alternative is pension plans. Although these products are designed to supplement retirement, they can be redeemed if the owner or a dependent family member suffers from a serious illness. Also if the insured becomes permanently disabled or dies. In the latter case, those who will receive the money will be the relatives.
5. Invest wisely
If you have financial capacity, it would also be good for you to invest for the future , be it yours or your children’s. With safe investments you may get lower returns, but you will not risk.
